The metaverse is in need of a cross-org collaboration system that fits with it.
They’re inescapable, from the dawn of their creation the non fungible tokens (NFTs) started living in the mainstream rent-free. An NFT is a unique unit of data stored on a digital ledger that you can resell but not interchange. These can be one-of-a-kind digital photos, videos, audio, and other types of digital files. Digital creators leverage blockchain technology to give their NFTs a public proof of ownership.
Cros is a Layer 2 protocol and a framework for collaboration between organizations using blockchain smart contracts. Cros is on a mission to empower DeFi protocols, NFT marketplaces, and metaverses to execute their business value chain with full traceability and in a trustless and tamper-proof environment.
This is how Cros can empower cross-org collaboration on the metaverse:
Your organization decides to host an event in the metaverse and announces the details of the event with a process outlined for potential sponsors to sign up.
Your organization prepares the NFTs that would be available for sponsors and attendees and share that structure with the NFT marketplace of your choice.
We have identified three fundamental members in this event: Your organization, sponsors, and NFT marketplace. With the help of Cros’ cross-org platform, all three will be able to collaborate autonomously and seamlessly, guaranteeing that:
Payments are being made on time
Data of all parties are protected
No foreign activity is carried out without monitoring
After acquiring sponsors, validators follow a Know Your Business (KYB) process to make sure that everyone is in place. Triggered by the smart contracts, the validated sponsor entries, along with their collateralized cryptocurrencies, are passed to the NFT marketplace. The winning bidding sponsors are contacted and an invoice is sent. After the payment is successful, the sponsorship contract terms are finalized and communicated.
Cros’ smart contracts will capture all the event sponsorship metrics (number of visitors to the Sponsor’s pavilion for example) and use that to reconcile any pending payment based on the sponsorship contract and terms recorded on the respective smart contract.
Without Cros, collaboration in such a space, on such a stressful project like events, would be ridiculously tiresome. In some cases, and we believe we’ve all been there, worn out teams behind conferences and events project their frustration on attendees and sponsors, which is a scenario we’re sure none of us want to be around — let alone manage.